Christina Spade, Chief Executive Officer of AMC Networks, surprisingly resigned after just three months.
It was not immediately clear what prompted the sudden exit. In a brief statement, AMC Networks’ board said it is currently in the process of determining who it will appoint as his successor.
AMC Networks Chairman James Dolan said, “We thank Christina for her contributions to the company in her role as CEO and her previous role as CFO, and wish her well in her future endeavors.”
Industry veteran Spade previously held senior positions at ViacomCBS, CBS Corp. and show time. In August, it was announced that she would replace interim CEO Matt Blank, who succeeded longtime boss Josh Sapan.
“I am a fan of this company in every way, the content, the brands, and most importantly, the people and dynamic and inclusive culture,” Spade said in August.
Spade gained the role of CEO after joining the company as CFO in 2021. Previously, she served as CFO at CBS and Showtime.
The change at the helm of AMC continues a period of transition for the company, formerly known as Rainbow Media, before it became a Cablevision spin-off more than a decade ago.
Like its cable programming competitors, AMC Networks faces significant challenges as cord-cutting continues to accelerate. The company has indicated a plan to derive most of its revenue from streaming by 2025, but results from its media business suggest that streaming is not as profitable as traditional pay TV’s dual revenue stream.
Dade Hayes contributed to this report.
Writer: Andreas Wijsman
Source: Deadline
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